Jet Airways denies stake sale deal with Temasek

Jet Airways India denied a newspaper report that it was planning to sell a 10% stake to Singapore's state-owned investment fund Temasek Holdings for Rs2.5bn.
India's largest private sector airline said that it does not comment on speculative reports. However, with regard to this particular news item, the company clarifies that it is not correct.
A leading financial daily had reported today that Jet Airways was in advanced negotiations to sell the 10% stake to Temasek.
Separately, Jet Airways' executive director Saroj Datta said that other reports of fund raising from Abu Dhabi were also incorrect. "Everything reported in the papers is false and incorrect," Datta was quoted as saying.
Two separate newspapers reported that the airline was in talks with Abu Dhabi state-owned Mubadala Development Co. for raising Rs10bn.
12/11/08 India Infoline.com

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Categories: Foreign Nov 2008, Jet Airways Nov 2008